Bristol-based Nuclear tech Astral Systems, a ambitious deeptech firm developing multistate fusion (MSF) technology, has raised £4.5M investment led by Speedinvest and Playfair, with the participation of angel investors including Oliver Buck, founder of ITM Isotope Technologies, and former ARM President of Product Group, Pete Hutton.
Astral Systems is focused on developing compact nuclear fusion reactors to produce medical isotopes on-demand for diagnostic and therapeutic applications in healthcare, aiming to provide a more accessible and readily available supply compared to traditional methods that rely on large nuclear power plants; essentially, they want to bring small-scale fusion reactors to hospitals for medical isotope production close to the point of care.
The team is the first to develop and commercialise MSF technologyand has achieved greater efficiency and lower cost than traditional reactors with its findings referenced by NASA. Its applications purport to range from cancer treatment to clean, safe hybrid nuclear energy, future space exploration, and industrial and security industry applications.
“In a short time we have gone from NASA-backed fusion theories and scientific research to commercially-viable reactors delivering unprecedented fusion performance,” said Talmon Firestone, CEO and co-founder of Astral Systems.
“This financing supports our next stage of growth, helping us to scale our sophisticated, compact reactors and increase production of disease-fighting medical isotopes that are critical in the fight against cancer.”
Rick Hao, partner at Speedinvest added: “Astral Systems represents the best of UK deeptech. Astral Systems is delivering a fresh approach to nuclear fusion that addresses urgent medical, industrial and power needs. We’re excited to support Talmon, Tom and the team as they scale its multi-state fusion technology to deliver meaningful, lasting impact.”
Astral’s compact reactors' hope to produce enough neutrons to offer an evergreen supply of isotopes, curtailing global manufacturing shortages.
“We are the first to commercialise fusion in the lattice at these levels - marking a new era in nuclear technology” added Dr. Tom Wallace-Smith. “Physics phenomena are rarely singular in their application, and fusion has long been isolated to the long play of magnetic confinement breakeven power. Our commercially available technology allows fusion to go beyond this and open up many other markets with immediate societal benefits.”
Would you like to write the first comment?
Login to post comments